WASHINGTON — Nat Wienecke, senior vice president, federal government relations at the Property Casualty Insurers Association of America (PCI) issued the following statement in support of the Senate Banking Committee’s hearing entitled, “The National Flood Insurance Program (NFIP): Reviewing the Recommendations of the Technical Mapping Advisory Council’s 2015 Annual Report.”
"PCI applauds Chairman Shelby and Ranking Member Brown and the members of the Senate Banking Committee for holding this important hearing to address mapping recommendations surrounding the NFIP,” said Wienecke. “The Senate Banking Committee's early, thoughtful examination of issues surrounding NFIP reauthorization is an encouraging sign that Congress understands the importance of reauthorizing the NFIP well before the September 30, 2017 deadline for reauthorization. PCI is pleased to be part of a now year-long effort, along with other industry stakeholders, to identify key principles essential to any thoughtful reform and reauthorization of the NFIP. PCI and its member companies stand fully ready to help Congress in its endeavor to protect the 5.1 million families and businesses that depend on the NFIP and expand flood insurance options for consumers in the private market."
PCI and banking and insurance industry stakeholders submitted a letter for the record outlining the Joint Trades’ Principles for Flood Insurance Reauthorization. The letter is attached.